Narrow Results

This review examines 43 recent papers about factors behind success and failure of innovative projects. Nine out of the 43 papers report a larger number of possible causes for success or failure and provide some rank ordering. Analyzing these rankings we find that the nine studies have a significant degree of similarity among the ten highest-ranking success factors; however, there is little similarity among lower ranking factors. The various studies remain either inconsistent or inconclusive with respect to factors such as strength of competition, R&D intensity, the degree to which a project is "innovative" or "technologically advanced" and top management support. Agreement exists, however, about the positive impact on innovative success of factors such as firm culture, experience with innovation, the multidisciplinary character of the R&D team and explicit recognition of the collective character of the innovation process or the advantages of the matrix organization.

Innovation researchers increasingly pay attention to service industries, resulting in a large amount of literature on success factors in new service development. However, the role of individual co-workers in innovation is still underexposed.

This paper investigated the drivers of innovative behaviour of individual co-workers, which is considered to be a major determinant of incremental innovation. From the literature seven constructs were derived that are often discussed as drivers of innovation, but have not been tested as determinants of individual co-workers' innovative behaviour. Survey data were collected from 360 persons working in knowledge-intensive service firms. Based on a regression analysis, it appeared that perceptions of job challenge, autonomy, strategic attention and external contacts are positively related to innovative behaviour of individual co-workers. Also, operating in a market where firms compete on differentiation had a positive impact. On the other hand, a firm climate supportive to innovation and a high variation in demand did not affect innovative behaviour in a direct manner.

This study empirically analyses the effects of five critical success factors on the front end of innovation and new product development success. Data from a self-developed questionnaire on a cross-industry sample of 77 German-based small- and medium-sized firms were collected through an online survey. Accouting for factors not included in previous studies, the results indicate that strategic alignment, creative encouragement, and external collaboration are the key predictors of front-end success. Surprisingly, the impact of process formalisation and the importance of cross-functional collaboration for front-end success could not be supported. We conject that collaboration in the front end of innovation must exceed simple communication and information exchange to significantly effect front-end success. Managerial implications of this study include the need for an internal search for ideas by fostering employees’ creative abilities while simultaneously remaining open to external input. Also, activities in the front end of innovation should be aligned with the organisation’s overall business strategy to promote successful ideation.

Initial coin offerings (ICOs) have been established as an innovative capital-raising method. Nevertheless, numerous cases of ICO fraud are having a negative impact on investors. In particular, the lack of legal certainty (e.g., creditor protection) and the lack of direct participation in a company’s success (e.g., profit distribution) have led to an increasing number of security token offerings (STOs). These offer investors a degree of legal certainty and direct participation in company profits. However, to date, little scientifically-based knowledge exists regarding the factors that influence the funding success of an STO. We address this research gap by first identifying possible success factors for funding and then systematically analyzing 38 STOs that have already been carried out in order to determine the influence of those factors. Our analysis indicates that high-quality prototypes and high-quality teams are major drivers of STO funding success. Based on these results, we discuss the implications for science and practice, outline the limitations of our work, and identify further research needs.

Literature on the champion theory proposes the informal character of the champion’s role and also notes difficulties in institutionalizing it. Nevertheless, formally institutionalized roles that seem to fit the description of a champion can be recognized in organizations, especially as enablers of open innovation activities. However, research cannot answer how this institutionalization occurs and which factors influence it. To answer these questions, we investigate a unique single case in which a champion role was institutionalized in the purchasing department of a multinational company. The new role’s task is to identify, select, and integrate supplier innovations. Our results indicate that the informal role of the champion can be successfully institutionalized when certain success factors are considered, which are management commitment, use of success stories, and matching of champions with research and development teams. We contribute to innovation management literature by using the well-established champion theory to explain how and why large multinational companies formally establish the role of the innovation champion. Our research offers pathways for further research about both, the antecedents and the consequences of role formalization. Practitioners can build on the success factors derived in this study when formally implementing innovation champions as enablers of open innovation activities.

Mobile business ecosystems are based on product innovations and complements created on platforms facilitating transactions between groups of users in a multi-sided market. The purpose of this research is to present a model of success factors (SF) of mobile ecosystems. This research establishes an empirical framework based on the Android ecosystem, which has been analyzed in-depth on firm and ecosystem level, identifying 16 success factors. The main theoretical contribution is a model that identifies SF of platforms, which are related to the identification of the role of users and complementors in increasing innovation success. The model advances research in innovation platforms.

Introducing existing, improved or radically new process technology in the process industries is not finished until it is operating well at the firm’s premises; a fact of growing importance in the perspective of digital transformation. However, since it is uncommon for firms in the process industries to develop own process technology, they are dependent on suppliers for the acquisition of new equipment. Relying on the development of an organisational framework, the authors’ industrial experiences, and a literature review, success factors for inter-firm process technology transfer were initially developed. To facilitate the company use, and as an illustrative case, the success factors were afterwards included in a survey to informants in the petrochemical industries. The findings indicate that companies would benefit from the development of an internal guide for inter-firm process technology transfer. The success factors could not only be used as components in such a manual, but also serve as a “check-list” for internal improvement programs for process technology transfer.

The success of a customer relationship management (CRM) strategy depends on the adequate use of technology, including CRM software. This paper offers empirical evidence regarding critical success factors for CRM software adoption, namely, implementation project management and services provided by information technology consultants. Data analyses involving 208 business customers of an international CRM software provider show that (1) successful management of the implementation project is a fundamental prerequisite for the firm to take full advantage of CRM software; (2) perceptions of tangible offers, reliability, responsiveness, assurance, empathy, and training services provided by CRM consultants affect CRM success; and (3) the successful management of an implementation project mediates the effects of consulting service quality on successful CRM software adoption. These findings point to the relevance of service in the CRM software industry from the perspectives of both the professionals involved and the potential adopters of CRM software.

This paper investigates how information technology (IT) companies in Malaysia, particularly those with Multimedia Super Corridor (MSC) status, perceived the importance and degree of implementation of knowledge management (KM) success factors in their organisations and how these factors impact on their performance. Data were generated from a questionnaire survey of 427 middle managers from 194 MSC-status companies operating in Malaysia. Although the IT companies are highly aware of the importance of KM, the factors were only moderately implemented, with the exclusion of removal of organisational constraints. Some significant interactions were found between the KM success factors and organisational performance. Such significant findings provide important information on whether the MSC-status companies perceived KM as important to their success. In addition, based on the empirical results, recommendations are made on how the companies could improve their performance by narrowing the gaps through better organising their KM practices from the right perspective. This paper provides new information not only in terms of filling the gap of the newness of KM practices in Malaysia, it also has implications on the relationships between KM success factors and the performance of the MSC-status IT organisations in Malaysia.

Small business and entrepreneurship have been at the heart of Pakistan's economy for almost 60 years, yet little (if any) research has been conducted that identifies factors crucial for small business success in Pakistan. In the past, studies identifying factors crucial for small business success have focused primarily on the United States and Western Europe. This paper presents survey results from 265 small business owners located in and around Karachi, the largest city and hub of economic activity in Pakistan. The survey was designed to identify the internal and external factors that Pakistani small businesspersons believe are critical for success.